Dover (NYSE:DOV) Lowered to Sell at ValuEngine

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ValuEngine downgraded shares of Dover (NYSE:DOV) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.

A number of other research firms have also recently weighed in on DOV. Barclays upped their price objective on shares of Dover from $111.00 to $112.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Robert W. Baird upped their price objective on shares of Dover from $100.00 to $105.00 and gave the stock a neutral rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price objective on shares of Dover from $82.00 to $93.00 and gave the stock a neutral rating in a research report on Thursday. Citigroup upped their price objective on shares of Dover from $113.00 to $114.00 and gave the stock a buy rating in a research report on Monday, September 9th. Finally, Royal Bank of Canada upped their price objective on shares of Dover to $97.00 and gave the stock a sector perform rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $99.12.

Shares of DOV traded down $1.49 during trading hours on Thursday, hitting $95.87. The stock had a trading volume of 47,415 shares, compared to its average volume of 698,366. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.34. The firm has a 50-day moving average price of $95.56 and a 200 day moving average price of $95.75. Dover has a fifty-two week low of $65.83 and a fifty-two week high of $103.47. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.42 and a beta of 1.47.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.01. Dover had a net margin of 8.50% and a return on equity of 29.22%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts predict that Dover will post 5.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 2.04%. Dover’s dividend payout ratio is currently 39.44%.

In other news, VP William Spurgeon sold 20,049 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the completion of the sale, the vice president now owns 5,296 shares of the company’s stock, valued at $521,232.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brad M. Cerepak sold 9,918 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $90.93, for a total transaction of $901,843.74. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $4,385,834 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in DOV. MML Investors Services LLC grew its holdings in shares of Dover by 10.6% during the first quarter. MML Investors Services LLC now owns 9,128 shares of the industrial products company’s stock worth $856,000 after buying an additional 878 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Dover by 70.5% in the first quarter. Principal Financial Group Inc. now owns 376,307 shares of the industrial products company’s stock valued at $35,298,000 after purchasing an additional 155,552 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Dover in the first quarter valued at about $524,000. Andra AP fonden purchased a new stake in shares of Dover in the first quarter valued at about $6,847,000. Finally, Meiji Yasuda Life Insurance Co purchased a new stake in shares of Dover in the first quarter valued at about $900,000. 85.99% of the stock is owned by institutional investors and hedge funds.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Analyst Recommendations for Dover (NYSE:DOV)

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